Lock In 7.80% Returns: Bank of Baroda Unveils BoB Square Drive FD Scheme; Check Details of Yield FD Scheme

A new retail term deposit scheme, the "bob Square Drive Deposit Scheme," has been launched by Bank of Baroda (Bank), one of the top public sector banks in India. It is a 444-day term deposit scheme with interest rates of 7.15% p.a. for the general public, 7.65% p.a. for senior citizens, 7.75% p.a. for super senior citizens (those 80 years of age and older), and up to 7.80% p.a. on non-callable deposits. Retail term deposits under Rs 3 crore are eligible for the initiative, which launches on April 7, 2025.

Customers can open a fixed deposit at any Bank of Baroda branch or via the bank's digital platforms, such as the bob World app and online banking. Additionally, new customers of the bank no longer need to create a savings account in order to open FDs with the Bank through the Bank of Baroda website using Video KYC.

Ms. Beena Vaheed, Executive Director, Bank of Baroda said, "With interest rates trending downwards, the 'bob Square Drive Deposit Scheme' offers depositors an attractive option to lock in higher rates and earn stable & assured returns on their savings. Bank of Baroda continues to innovate on its deposit offerings to offer solutions that meet the evolving and diverse financial goals of our customers."

BoB Square Drive FD Rates

As of March 31, 2025, BoB's global business rose by 11.44% year on year to reach Rs 27.03 trillion. As of March 31, 2025, the bank's global advances had increased by 12.88% YoY to Rs 12.31 trillion, while its global deposits had increased by 10.25% YoY to Rs 14.72 trillion.

Meanwhile, on April 5, Bank of Baroda (Bank), one of the top public sector banks in India, partnered with Prayagraj Municipal Corporation (PMC) to become the municipal organization's "Sustainability Development Partner" for a three-year term. This partnership supports PMC's continuous efforts to improve sustainable urban development in Prayagraj through significant initiatives, including cutting-edge waste management and conservation programs, and is consistent with the Bank's "BOB Earth" program.

The PMC's semi-solid waste management programs will receive assistance from Bank of Baroda as part of the cooperation. In order to reduce the environmental effect, the cooperation will see the installation of cutting-edge machinery at a semi-solid waste management facility at Baswar Plant. These machines will collect and process semi-solid waste material generated from diverse sources using specialized treatment procedures. Composting, which helps stop soil erosion, encourage healthy plant growth, conserve water, reduce waste, improve soil health, restore wetlands, and fight climate change, will be done using the processed waste.

Furthermore, Prayagraj Municipal Corporation and Bank of Baroda have partnered as the "Green Partner" for the historic Daak Ghar Chauraha installation at Civil Lines in Prayagraj, which is next to the Post Office. The 10-foot-tall waste-to-wonder monument of a postman, which honors postal workers, is constructed completely of sustainable resources.

Shri Lal Singh, Executive Director, Bank of Baroda said, "Bank of Baroda is the lead bank and convenor of State Level Bankers' Committee (SLBC), Uttar Pradesh and we are pleased to partner with Prayagraj Municipal Corporation on this important initiative. Sustainability is a key pillar of Bank of Baroda's ethos. The Bank's "BOB Earth" programme exemplifies our unwavering commitment to promoting eco-friendly solutions and fostering positive change for future generations. Partnerships such as the one with Prayagraj Municipal Corporation give us an opportunity to work with local authorities, contribute meaningfully to environmental conservation and can make a big impact on local sustainability efforts."

One of India's top commercial banks, Bank of Baroda was established on July 20, 1908, by Sir Maharaja Sayajirao Gaekwad III. Through around 60,000 points of contact located in 17 countries across five continents, as well as its many digital banking platforms that offer all banking products and services in a smooth and hassle-free way, the bank serves its approximately 165 million global customers.